23 December 2005 10:43

Acquisition of hypermarket and two medium sized surface areas in Rimini

As set forth in the Prospectus, IGD SpA, a company listed on the STAR segment of the Italian Stock Exchange and operating in the retail property sector, bought a hypermarket and two two medium sized surface areas inside the Malatesta shopping center in Rimini.

The Malatesta shopping center, whose distinctive feature is its energy saving systems, is situated in an area adjacent to the city center, opposite Rimini’s new exhibition center’s offices and southern entrance.

The hypermarket, home to Coop Adriatica, occupies a gross working surface 19,398 sqm.

The total investment will amount to 35 million euros.

This new acquisition, the fifth in 2005, offers confirmation of the dynamic nature of IGD’s growth strategy, aimed at increasing its own real estate portfolio by acquiring and constructing shopping centers offering major investment opportunities.

“This acquisition – stated Filippo Carbonari, IGD’s Managing Director – shows how IGD is maintaining the promises made on the occasion of the IPO, working both inside the framework agreement with its own shareholders as in this case, and with third parties, proving its ability to take advantage of market opportunities.